The company announced a net loss of $139 million before including restructuring and re-organization costs as Kodak makes its way through Chapter 11 bankruptcy. That's an average loss of about $46 million a month, which is an improvement from a year ago.

Revenue for the quarter was just over $1 billion; a 19 percent drop from a year ago.

However, Kodak says its focus on cost reductions has led to a decrease in expenses of $63 million.